There is a $125 annual flat fee, he told me. Alarm bells went off. That’s it? I asked. That can’t be it. I assumed there was a percentage charge on my investments. He laughed. We’d love to charge that, he said. But no, $125. Was that the only fee, I asked? I was increasingly dubious. Well, he said, each fund in which you’re invested has internal fees. How did I find those?

https://www.wsj.com/articles/whats-my-investing-fee-a-frustrating-quest-1494209820